Circle acquires Hashnote to boost tokenization efforts

Circle, issuer of the USDC stablecoin, has acquired Hashnote, the issuer of the $1.3 billion USYC tokenized money market fund. The deal aims to integrate USYC with USDC, enhancing liquidity and bridging traditional finance with blockchain. Circle also partnered with Cumberland DRW to support liquidity and settlements for USDC and USYC. Additionally, USDC will be deployed on the Canton Network to facilitate real-world asset transactions, CoinDesk reported.